PRLog - Sep. 4, 2014 - TEMPLE TERRACE, Fla. -- TEMPLE TERRACE, FL –Terrace Ridge Plaza, a 66,527 square-foot Publix-anchored Shopping Center has been sold for $14.7 million ($220/SF). Built in 1987 the plaza was in its renewal periods for the anchor lease. Terrace Ridge was a highly desired asset due to its anchor sales volume, proximity to the University of South Florida and its limited exposure to shop space; having less than 12,000 total square-feet to lease. The property is 12 miles North of Downtown Tampa and held an occupancy percentage at 97.5%.
Terrace Ridge Plaza
Crossman & Company’s Investment Sales Team worked alongside the Seller, Centurion Realty of New York, NY to close the deal. “We are fortunate to continue to work with great clients on both sides of the table” said Mark Thompson, Managing Director of Crossman & Company. “This was a highly coveted asset for a number of reasons and thus the process was both quick and seamless,” he added. Year to date Mark Thompson’s team has facilitated the closing of ten Publix-Anchored Shopping Centers in three states and currently has three additional Publix deals under contract.
About Crossman & Company
Crossman & Company was founded in 1990 and is a regional shopping center brokerage firm which represents over 200 shopping centers in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina. For more information, visit the company’s website: www.crossmanco.com